EURGBP: Long above lowest high

FX:EURGBP   Euro / British Pound
263 35 11
Potential leg up in this pair.
DXY             is facing a very strong resistance, I expect usdjpy             to fall, as well as eurusd             and eurgbp             to go up.
I woudn't attempt to long eurusd             or euraud             or eurcad             now though, it's safer to trade it against the pound.
Time and price target reached suggests potential reversal or pullback.
Good luck!
Very nice move off the lows here, looks like a buy again.
+1 Reply
justatrader IvanLabrie
Yep, been long from 7145, looking to exit at .73
IvanLabrie IvanLabrie

It's being rejected by that resistance to the left...I'll wait for further confirmation here.
IvanLabrie IvanLabrie
Daily bird's eye view:

Entered long again with a 20 pip stop. I expect to ride it for 370 to 740 pips in 2 to 5 weeks.
+1 Reply
IvanLabrie IvanLabrie
+1 Reply
jangseohee IvanLabrie
double bottom?
IvanLabrie jangseohee
I'll post my monthly for your amusement now...
justatrader IvanLabrie
Unless that last support is broken, don't see any downside move. Daily formed like a spinning bottom yesterday, so there could be a retracement to 0.7223 and/or 0.724

And this is the daily view: I think its very obvious now.
+2 Reply
IvanLabrie justatrader
Saw my wave counts?
This is a large scale reversal, potentially.
Compare eurjpy to gbpjpy and you'll find something interesting.
Which has more room to fall in the intermediate term?
That will answer this question of relative strength for you.
+1 Reply
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